ARCHIVED BLOG POSTS
2016
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With no economic reports due to come out today, some speeches by various Fed talking heads may have influenced markets today. As it turned out, however, most of their comments were innocuous and had little effect on stocks or bonds. Due to recent improvement in crude oil futures, gasoline natio...
05/23/2016
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Mortgage backed securities (MBS) closed up 6basis points today at 102.28 having risen to the 50 day moving average prior to closing 3 basis points below it. San Francisco Fed President Williams who does not have a vote this year indicated that two or three rate hikes this year may still make se...
05/23/2016
After yesterday's hawkish comments from Fed Chair Janet Yellen the chances of rate hike in June went from 11% last week to 34% this week. That possibility continued to weigh on stock prices here after Wednesday's losses. Weekly initial jobless claims well from last week;s highs to 278,00 this w...
05/19/2016
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Mortgage backed securities (MBS) closed up 19 basis points today at 102.25 having passed through offered by the 100 day moving average and risen to within 3 points of the 50 day moving average prior to closing 6 basis points below it. I am now cautiously float for loans closing in the near ter...
05/19/2016
Just as baseball season really began to hit its stride, the Fed threw out a knuckle ball today. After the Fed's two day Open Market Committee, it was revealed that if there is improvement in the 2nd quarter GDP, that the Fed intends to raise their overnight rate at which they lend to banks by an...
05/18/2016
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Mortgage backed securities (MBS) closed down 31 basis points today at 102.06 having fallen through support previously offered by the 50 day moving average and closed just 10 points above the 100 day moving average. This is beginning to turn a bit nasty. It would be prudent to lock in rates at...
05/18/2016
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There was more carnage in equity markets here today. Somewhat surprisingly MBS bonds sold off in the face of the stock sell-off. The greater Consumer Price Index was up .4% today and the core index was up .2%. Since the numbers are still well below the Fed's target of 2%, one would have though...
05/17/2016
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Mortgage backed securities (MBS) closed down 19 basis points today at 102.38 having fallen through support previously offered by the 25 day moving average and closed 10 points below it. MBS bonds managed to bounce back 7 point from their low of the day. Hopefully they can rebound somewhat th...
05/17/2016
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After a rough day yesterday with discouraging news coming out of China regarding their manufacturing production and retail sales, stock futures were hoping to leave the three week losing trend behind. Oil traded at its highest level since last October, yet stocks began to gain some traction in e...
05/16/2016
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Mortgage backed securities (MBS) closed down 19 basis points today at 102.56 having once again fallen through support previously offered by the 10 day moving average and closed 10 points below it. MBS bonds closed just off their low of the day. It will be interesting to see what tomorrow bring...
05/16/2016
